Following El Mariachi, Gallardo went on to be co-producer of the Robert Rodriguez-directed Mexico Trilogy sequels, Desperado and Once Upon a Time in Mexico. Both films featured Antonio Banderas in the role of El Mariachi, in place of Gallardo, though Gallardo had a minor role in Desperado, playing El Mariachi's friend, Campa.

Gallardo co-wrote, produced and starred in the title role of 2004 independent action thriller, Bandido. He was also producer for 2004 Colombian TV series Me amaras bajo la lluvia.

Carlos also participated in the Robert Rodriguez production titled Curandero where he plays the lead. Curandero was directed by Eduardo Rodriguez.